ANALYSIS: The L322 "There's A Bubble"

What's going on here?

Bring a Trailer sold a L322 Range Rover this evening for €74,000 (including premium). A friend immediately text the group "there's a bubble".

Is there?

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The Third Generation Range Rover seems to be everywhere on social media at present.

The movement picked up pace in this Harry's Garage video when Mr Clarkson joined to spread the L322 word in this mega video.

And only last week 30 of these met up for a convoy round the Cotswolds.

But what's happened to prices? Is there a bubble?

Prices (inclusive of all variants) had been broadly flat, climbing slightly before peaking in mid-2022 at £18,700.

Since then, globally prices have dropped by a third in just two years.

So, no, there's not a bubble. Although the UK market is showing far more positive price movements for these than the rest of the world.

There is, however, a widespread fear in the forums of running costs on these being enough to even make a member of the gentry balk. If you are looking to pick up a cheap L322, price in some punchy maintenance costs just in case.